The road to retirement looks different for everyone. For most people that might be to choose a retirement product that may help them realise their ambitions for later life, and avoid exposing their pension savings to any undue risk.  

So, being able to offer your clients the certainty of a guaranteed income for a fixed period of time, coupled with the flexibility of have new options at the end of the term may give your clients reassurance as they begin their journey to retirement.
 

Help your clients achieve their retirement goals  

We’ve launched our Guaranteed Fixed-term Income to widen our range of retirement income options, and give you the tools you need to help your clients retire on their own terms.  

So, if your clients don’t feel that they’re at the right stage in their retirement journey to make a commitment to a lifetime income option, they can choose to receive a regular guaranteed income for a fixed period instead.  

The product doesn't just help provide an income. It could also provide peace of mind for those who may be worried about market volatility by remaining invested in other types of pension plans and are seeking a solution that can provide a guaranteed return at the end of the chosen term. 

They can opt for a term that suits their current retirement plans best - from three to 25 years. And if selected at outset, when the term ends, your clients can choose to receive a maturity value, which can be used however they choose – either taken as a taxable lump sum, or put towards purchasing another retirement income option.  

The product also gives you the natural opportunity to conduct regular pension portfolio reviews at the end of each fixed term - so you can continue to support your clients’ ongoing financial objectives, as well as meet your regulatory obligations. 
 

A balanced approach to retirement income 

According to research from Phoenix Insights, almost half (46%+) of people expect to transition gradually from the workplace towards full retirement1. With this in mind, our Guaranteed Fixed-term Income can be used to help bridge an income gap and protect a client’s lifestyle if they want to start to take a step back from work at start of their retirement journey, or if they decide to retire before their State Pension payments begin.

 

Claire Altman, Managing Director for Individual Retirement at Standard Life:

"

As many as 9 in 10 people say income certainty in retirement is important to them, while the same proportion say it’s important to access all or some of their money flexibly2. For these customers, the Standard Life Guaranteed Fixed-term Income does what it says on the tin – providing a guaranteed income for a fixed-term, as well as the flexibility to reassess their financial needs at a later stage.

"

Claire Altman, Managing Director for Individual Retirement at Standard Life:

"

As many as 9 in 10 people say income certainty in retirement is important to them, while the same proportion say it’s important to access all or some of their money flexibly2. For these customers, the Standard Life Guaranteed Fixed-term Income does what it says on the tin – providing a guaranteed income for a fixed-term, as well as the flexibility to reassess their financial needs at a later stage.

"

Take a closer look

The Standard Life Guaranteed Fixed-term Income is available to clients aged between 55* and 85 – with a minimum of £10,000 in pension savings, after any tax free-lump sum has been deducted.  

We also offer a range of optional features, such as death benefits and inflation proofing, so you can make sure a client’s income is tailored to meet their specific needs. 

Visit our product page to find out more. 
 

*increasing to 57 from 6 April 2028.

1. Phoenix Insights report, 2024   2. Retirement Voice Report, 2023
 

 

The information on this site is for qualified financial advisers and must not be relied on by anyone else. If you are not an adviser please go to our customer website for more information about our products and services.

Money invested is at risk.  Tax may change in the future.